Enphase Energy (NASDAQ:ENPH) Downgraded to Sell at Guggenheim

Guggenheim lowered shares of Enphase Energy (NASDAQ:ENPH) from a neutral rating to a sell rating in a research note published on Wednesday, MarketBeat reports. They currently have $92.00 price target on the semiconductor company’s stock.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of Enphase Energy from a hold rating to a sell rating in a research note on Wednesday, February 7th. Mizuho cut their target price on shares of Enphase Energy from $150.00 to $148.00 and set a buy rating for the company in a research note on Friday, April 19th. Roth Mkm reaffirmed a buy rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Thursday, April 18th. Canaccord Genuity Group assumed coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They set a buy rating and a $142.00 price objective for the company. Finally, Wells Fargo & Company raised shares of Enphase Energy from an equal weight rating to an overweight rating and upped their price objective for the company from $98.00 to $141.00 in a research note on Monday, January 8th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $141.00.

Enphase Energy Stock Down 5.6 %

ENPH stock opened at $107.17 on Wednesday. The stock has a market capitalization of $14.57 billion, a P/E ratio of 35.02, a P/E/G ratio of 3.16 and a beta of 1.47. The firm has a 50-day simple moving average of $119.28 and a 200-day simple moving average of $111.97. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. Equities analysts forecast that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Mora sold 24,285 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock valued at $4,054,428 in the last ninety days. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently modified their holdings of the company. Bogart Wealth LLC purchased a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $31,000. Parkside Financial Bank & Trust increased its position in shares of Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 176 shares during the last quarter. Covestor Ltd increased its position in shares of Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 133 shares during the last quarter. Finally, Addison Advisors LLC increased its position in shares of Enphase Energy by 1,447.6% in the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 304 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.